Switching from conventional products to biobased products has the potential to reduce greenhouse gas emissions, reduce air pollution, reduce discharges of contaminated wastewater from refineries, and reduce solid waste sludge creation and disposal. In some cases, biobased products are byproducts of other production processes, made from recycled, reused, or reclaimed materials, and can replace products conventionally made using petroleum. An overview of the approach used to analyze the economic impacts of the biobased products industries is presented. The analysis depended on three major elements: establishing a database of relevant data and parameters reflecting the current state of the biobased economy through review of industry and sector specific reports; applying an accepted economics model to establish the economic outcomes related to the database to project aggregated outcomes by product sector; and conducting interviews with industry and trade groups to understand the drivers, challenges, and future growth of the biobased sector. This is an abstract of a paper presented at the 108th AWMA Annual Conference and Exhibition (Raleigh, NC 6/22-25/2015).